Purchasing the right cyber insurance for your organization can feel like a daunting task.

Companies must take into consideration a multitude of factors, like pricing, policy provisions and exclusions, when evaluating their cyber insurance coverage.

Cyber insurance policies may include coverage for network security liability, electronic media liability, privacy liability, and many more components.

But do you really need cyber insurance?

That's entirely up to you and your company's risk profile.

Fortunately, some cyber insurance policies come with complimentary cybersecurity tools and services which can help beef up your security strategy.

Whether your organization opts for the full cyber insurance package or simply chooses to go another route, knowing the status of your cyber insurance direct written premiums might be helpful in making the best decision.

To that end, questioning why decisions on cybersecurity and cyber insurance were made is also important in assessing the value of such investments.

All in all, cyber insurance can provide an important and crucial layer of protection against potential cyber incidents - so weigh your options carefully!

Gerard Blokdyk

Cyber Insurance KPI Metrics Available Now

Ranked By Priority:

1. Insurance Coverage Claims and Losses: Track the amount of cyber insurance coverage claims and losses from past policy years.
 

2. Excess amounts claims: Monitor total amounts in excess of Cyber insurance limits, if any.
 

3. Internal Cyber Security Practices: Measure the effectiveness of an organization's cyber security practices, procedures, and controls.
 

4. Breach Internal Response: Track the time it takes for an organization to identify and contain a breach, as well as any breach-related costs.
 

5. Breach Investigation: Assess response time, accuracy, and completeness of tasks related to investigating breaches and identifying exposed data.
 

6. Network Security Architecture: Monitor the effectiveness of an organization’s network security architecture.
 

7. Employee Security Awareness: Evaluate employee security awareness and the implementation of security measures across the organization
 

8.Third-Party Risk Management: Assess the number of third parties with access to the organization's data and the organization's risk management processes.
 

9. Regulatory Compliance: Track the organization's compliance with applicable privacy regulations.
 

10. Penetration Testing: Monitor the frequency and effectiveness of periodic penetration testing performed on the organization's systems.

1.

 

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2.

 

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I was able to easily access the information provided and find the data I needed quickly.

 

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3.

 

I found The Art of Service's Cyber Insurance metrics to be incredibly insightful and useful in evaluating my cyber insurance plan.

 

It is user friendly, straightforward, and presents all the data in an organized manner.

 

Highly recommended if you are looking to understand cyber insurance metrics better.

PS: Check out all standards and metrics included here: (requires sign up for a free Airtable account)

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